GasBuddy News Article

Houston Chronicle
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Turmoil in the Middle East and the announcement of Federal Reserve plans to stimulate the economy sent the price of crude oil rising Thursday to its highest level in four months.

U.S. benchmark crude rose $1.30 to $98.31 on the New York Mercantile Exchange, the highest price at the close of trading since May 4.

With Iran's oil exports limited by sanctions and social unrest in several Arab countries making markets skittish, oil prices got another boost when the Fed outlined plans intended to give the slowly recovering economy a push that also might increase demand for energy.

It was a double whammy for oil markets, said Tom Kloza, chief oil analyst for the Oil Price Information Service.

"There's increased tension in the Arab world, and you also have the espresso shot of monetary stimulu

KEEP YOUR TANKS FULL! I've been preaching this for almost 2 months. The "pundits" and "experts" have NOT understood the supply/demand curve for gasoline that started to shape at the beginning of summer. Gasoline refineries have been overworked for months and months. Many have broke down. Some have caught on fire. This was all BEFORE the huricane!! We've seen some after driving season price drop, but very little and this is probably it. STAY FULL! We are only one or two down refineries from shooting back over $4 for a national average. Obamas failing and falling dollar will continue to put upward pressure on oil/gasoline.

In response to "Lologogo" question: "what ever happened to supply & demand running the prices of commodities?" When the speculators were allowed to purchase more and more oil as a commodity, they took over the price direction of oil. It just doesn't matter if supply is up or demand is down. The end decision of where the price of oil will go.....ding, ding, ding.....you got it, goes to the speculator. HOW WONDERFUL is that!!!!

Big Oil will use any event to justify upping the price of oil and prices at the pump! If this economy is to be jump started.. Big oil needs to get off their big profits and start lowering prices to the consumer.. yes the consumer, who drives the economy most!

----Our FED Chairman, Helicopter Ben, does not care about us little people. His sole mandate is to get the banksters, and the rest of the 1%, all of the money he can, by taking it from everyone else.And don't think Mittens will do anything if he gets elected. Despite what he says, nothing will happen. After his acceptance speech, the big banks will have a chat with him. Make him "an offer he can't refuse", if you will.

How counter productive "to jump-start the lethargic U.S. economy, the Fed announced it would buy $40 billion in mortgage-backed securities each month with no set end date, a policy that could drive dollars into the market and boost spending. The move could weaken the dollar, on which crude prices are based, making oil a cheaper buy in other currencies."

So we produce the above action and raise oil prices which in turn JUMPS up the gas price. Enough is enough with oil and gas both rising. There are too many senior citizens on fixed incomes that will not be able to heat their homes this winter. The economy is very poor right now. Let's try an alternative method!